HOUSTON, Aug. 9, 2024
/PRNewswire/ -- Pelican Energy Partners ("Pelican") is pleased to
announce the acquisition of Electrical Builders Industries ("EBI"
or the "Company"). Headquartered in St.
Cloud, Minnesota, EBI is an industry-leading service
provider specializing in solutions for system critical electrical
bus duct installation, replacement, and repair. Over the last 50
years, EBI has provided asset life extension services to generation
facilities across North American, including over 75% of
the United States commercial
nuclear fleet, reinforcing the Company's commitment to maintaining
and growing the nuclear power sector.
Jessica Netter, second generation
owner and CEO of EBI, stated "We are pleased to partner with
Pelican as we enter the next growth phase of our business.
Pelican's commitment to the nuclear sector coupled with their
experienced leadership is set to provide EBI ample opportunities to
grow within North America's power
sector. This partnership will allow us to continue to invest
in our high caliber talent and build on our reputation for
unsurpassed quality, exceptional safety, and customer centric
service."
Paul Ernster, Vice President at
Pelican, stated, "We look forward to the partnership with EBI and
its CEO Jessica Netter. This
partnership reflects Pelican's commitment to investing in
market-leading nuclear energy service providers and growing the
capacity of the nuclear supply chain. We are especially excited
about the role EBI will play in expanding baseload power generation
to support the significant energy supply needs for datacenter
facilities."
For more information on Electrical Builders, please see the EBI
website, www.electricalbuilders.com.
Locke Lord LLP acted as legal counsel to Pelican Energy
Partners, and Taft Stettinius & Hollister LLP served as
legal counsel to Electrical Builders.
About Electrical Builders Industries
EBI offers high-quality industrial, electrical, and welding
services during scheduled plant turnarounds and new builds, while
also establishing itself as the premier emergency services
contractor for unplanned outages for more than a decade. The
company has extensive experience working with utility owner /
operators of nuclear power stations and all other traditional power
generation sources. The team at EBI provides a clear and
quantifiable path for project execution to all its customers based
on its highly experienced team, rapid deployment speed, an
unmatched safety culture, and access to its R3 Mobile Fabrication
Unit – all of which ensure smooth completion for bus duct
maintenance, repair and install projects.
About Pelican Energy Partners
Founded in 2011, Pelican Energy Partners is a Houston-based private equity firm specializing
in strategic investments in small to middle-market, high-growth
potential energy service and equipment companies. The firm makes
investments in energy equipment and service companies in the oil
and gas and nuclear sectors.
For more information about Pelican Energy Partners, please visit
www.pelicanenergypartners.com.
Mike Scott
mscott@pep-lp.com
713-559-7112
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SOURCE Pelican Energy Partners